Quoted

June 22nd, 2022

We’ve Only Scratched the Surface of How Bad the Crypto Crime Wave Has Gotten

Blockchain Technology Co-Chair Jeremy S. Goldman was quoted in the article, “We’ve Only Scratched the Surface of How Bad the Crypto Crime Wave Has Gotten” published by the Los Angeles Times. The article discusses the increase of criminal fraud for cryptocurrency investors, who have lost billions of dollars with little hope of recovering those losses.

Jeremy acknowledges the risks of crypto and is quoted saying, “Crypto technology was built out of a ‘libertarian ethos’ in which there’s no nanny state that’s going to take care of you.” He adds, “These are the consequences when there’s a mistake … there’s no one to unwind it, you can’t call customer service, you can’t go back to the mothership, you can’t go back to the bank.”

Recently, two men were arrested in Los Angeles for orchestrating a fraud and money laundering cryptocurrency “rug pull” scheme. Jeremy said, “The case demonstrated sophisticated abilities by federal agents to follow the money and follow blockchain-based transactions”  and “They really did a good job in following the breadcrumbs.”

Read the full article here.